A recent report published by Infinium
Global Research on microelectronics market provides an in-depth analysis of
segments and sub-segments in the global as well as regional microelectronics
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional microelectronics market over the short
term as well as long term. The report is a comprehensive presentation of
trends, forecast, and dollar values of the global microelectronics market. According
to the report, the global microelectronics market is projected to grow at a
CAGR of 12.0% over the forecast period of 2020-2026.
Advancements in semiconductor
technology have revolutionized the devices used in various industries for
different applications. As new technologies and fabrication processes are
developed, the size of semiconductor devices is shrinking. This led to the
advent of an entirely new market in the electronics and technology segment.
Microelectronics deals with the study and manufacturing of small and
microscopic electronic components. Microelectronic devices are made by using a
semiconductor material such as silicon and germanium. Electronic components
including transistors, capacitors, resistors, diodes, insulators, and
conductors are considered microelectronic devices. These devices are widely
used for various applications in different industries including medical,
aerospace, and military.
The spread of the COVID-19 pandemic is
anticipated to have severe effects on the microelectronics market in short
term. As the pandemic started to spread, governments of various countries
across the world imposed lockdown orders, suggesting citizens to stay indoors
and avoid visiting public places. Moreover, several device manufacturers were
compelled to reduce or stop their production in order to comply with the
lockdown orders by the government. On the other hand, the sale of products such as
electronic appliances, vehicles, computers, smartphones, and TVs had declined
during the lockdown, as less consumers are visiting the stores and spending on
the products. The lower production and sale of these products decrease the
demand for microelectronics devices used inside them. Nevertheless, the demand
for microelectronics from medical equipment and devices industry is estimated
to have raised during the pandemic. This, in turn, is expected to drive the
microelectronics market during the pandemic.
The low cost and lightweight
associated with the microelectronics components are majorly driving the market
growth. Developments in microelectronics have made it feasible to build an
inexpensive and low-power miniature sensing device. Moreover, microelectronics has been a rapidly
growing field of electronics due to its applications in several sectors. It has
several applications in construction, automotive and electronic industries that
are fueling the market. However, the fragility of the product cannot bear rough
handling and excessive heat which can hamper the growth of the market. The
establishment of advanced technologies is fueling the demand for the
microelectronics market. The growing implementation of technologies such as
Industry 4.0, Artificial Intelligence, and the Internet of Things is predicted
to boost the market growth over the forecast period. Furthermore, innovations
such as hybrid cloud storage, next-generation displays, wireless charging, and
flexible electronics are expected to create various opportunities.
In terms of geography, the North
American region accounted for the largest share in the global microelectronics
market. The high adoption of advanced technologies is propelling the
microelectronics market growth in this region. Moreover, the favorable
government policies and increasing approvals for various electronic devices are
further augmenting the market growth in this region. Asia-Pacific region is
expected to project the fastest growth in the microelectronics market. The
increase in investments and digitization is boosting the growth in the
Asia-Pacific region. Furthermore, the technological advancement in the
automotive industry is further propelling the microelectronics market in
Asia-Pacific.
The report on the global
microelectronics market covers segments such as software & algorithm, and
product. On the basis of software & algorithm, the sub-markets include
behavioral and proactive. On the basis of product, the sub-markets include
lighting control, security & access control, HVAC control, entertainment
control & others, and other control.
The report provides profiles of
the companies in the market such as Acuity Brands, Inc., ADT Corporation,
Control4 Corporation, Crestron Electronics, Inc., Cisco Systems, Inc.,
Honeywell International Inc., United Technologies Corporation, Johnson Controls
Inc., Ingersoll-Rand PLC, and Schneider Electric SE.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the microelectronics market. Moreover, the study highlights current
market trends and provides forecasts from 2020-2026. We also have highlighted
future trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.
Please Choose One of them.